Guideline Value for Triumph Squre

Triumph Squre guideline value

The current guideline value of Triumph Squre is Rs 3,900 per sq.ft. This property is located in Nandhambakkam village, under the Alandur SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Triumph Squre has changed

The guideline value for Triumph Squre has seen several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, this value decreased to Rs 2,345 per sq.ft in 2017. The 2023 revision raised it to Rs 3,500 per sq.ft, and the latest revision in 2024 has set it at Rs 3,900 per sq.ft, marking an 11% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 225%. The changes between revisions indicate a fluctuation in values, with significant increases from 2007 to 2012 and a notable rise from 2017 to 2023. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

Nandhambakkam has 76 streets under the Alandur SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Triumph Squre.

• Thulasingapuram: Rs 3,300 per sq.ft (2024)
• Vasanthacolony: Rs 3,900 per sq.ft (2024)
• Vempuliyamman Koil Street: Rs 3,300 per sq.ft (2024)
• T C N S Gardens: Rs 5,000 per sq.ft (2024)
• Surgikal Colony: Rs 4,400 per sq.ft (2024)
• Sundar Nagar Main: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Triumph Squre

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Triumph Squre?

The Triumph Squre property falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Nandhambakkam

The guideline value is a crucial factor during the registration of property transactions in Nandhambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations involved in the transaction. Buyers should factor in these costs to ensure a smooth registration process.

Frequently asked questions

What is the current guideline value of Triumph Squre?

The current guideline value of Triumph Squre is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 225% over the years.

What is the land classification of Triumph Squre?

Triumph Squre is classified as Residential Class II Type - I under the Alandur SRO.

What are the stamp duty and registration fees for a property in Triumph Squre?

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Triumph Squre?

The Alandur Sub Registrar Office handles property registrations for Triumph Squre, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.